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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (129596)	2/15/2006 6:11:48 PM
From: Henry J Costanzo	Read Replies (1) of 209892

CL.....Maybe I shouldn't have an opinion.........but I do..... Sharp undercut of 200d MA IMHO supports thesis that this is a 3 down from the high...Support at 4 down of lesser degree would take it to 51ish level, which would also satisfy the longer 3 requirement (longer than the 1 down). If any of this holds up, would have interesting ramifications........on the negative weight of falling oil stocks on the indexes....on the presumed "psychological benefits" of a fall in oil (the old saw about the market rising when oil falls).....on inflation, the Fed, interest rates......on the impact on heavy fuel users (airlines, freight etc.).......on the fate of our dear "AltEner" friends. Hope you will keep it all clear for us...... home.twcny.rr.com

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